Ultraviolette eyes Europe expansion with Venom launch | India Business News

Bengaluru: Ultraviolette on Thursday launched its X-47 Venom electric motorcycle as it prepares to expand its European presence and increase monthly motorcycle sales from around 700 to 1,000 in the first quarter of 2027.The Bengaluru-based company will introduce the Venom in Europe on Nov 3 at the EICMA motorcycle exhibition in Milan. It already exports to 20 European countries, including Germany, France, Italy and the UK. Europe accounts for roughly 10% of its current sales, the company said.The Venom is priced at Rs 2.6 lakh, ex-showroom Bengaluru, for the first 5,000 customers. The starting price will rise to Rs 3 lakh thereafter. Bookings opened on Thursday. The model is an updated version of the X-47 Crossover.The launch comes as Ultraviolette broadens its product portfolio, expands its distribution network and adds manufacturing capacity. Beyond Europe, it plans to enter the US in 2027 and is exploring opportunities in Latin America and Southeast Asia.Domestic expansion will accompany the overseas push. CEO and co-founder Narayan Subramaniam told reporters on Thursday that the company plans to expand its retail network from around 50 locations to 100 by the first quarter of 2027. With additional products, including the Shockwave motorcycle and Tesseract scooter, it is targeting sales of around 10,000 vehicles a month by this time next year.This broader target goes beyond the near-term increase expected from its motorcycle business as the company prepares to enter the electric scooter market. The planned additions will expand its portfolio across sports, crossover and street-and-dirt motorcycles, as well as scooters.Ultraviolette raised $85 million in September in a funding round led by Yali Capital and TDK Ventures, with participation from Intel CEO Lip-Bu Tan. The funds are intended to support manufacturing capacity, new electric vehicle platforms and international expansion.The company has also announced plans to invest Rs 779 crore over five years in a new factory in Hosur, Tamil Nadu. The facility is designed to ramp up to an annual capacity of 2.5 lakh vehicles in phases. It will manufacture the Tesseract scooter and future products, alongside the company’s existing Bengaluru operations.The Venom is the first motorcycle built on Ultraviolette’s VX-100 platform, which combines new battery, motor and control systems. The architecture can accommodate different battery capacities and power outputs, allowing the company to extend it across future models and markets.Subramaniam described VX-100 as establishing “a technology foundation for a new generation of products across segments and markets”. The company developed the platform as it prepared to expand beyond its existing motorcycle portfolio.Founded in 2016 by Subramaniam and Niraj Rajmohan, Ultraviolette counts TVS Motor, Qualcomm Ventures, Zoho and Lingotto among its investors. Its existing motorcycle portfolio includes the F77 range and X-47 Crossover.(With inputs from agencies)